Blockchain.com, a leading crypto exchange and wallet provider, is considering a US public listing via a SPAC deal, sources say. The company engaged Cohen & Company Capital Markets as an advisor for the potential deal, but the status of talks is unclear. Both parties declined to comment, according to CoinDesk. A SPAC, or special purpose acquisition company, allows private companies to go public by merging with an already-listed shell company that exists solely to acquire another business. This route sidest ...

Markets were in disarray on Friday after Trump threatened to impose additional tarrifs. Credit: Scott Heins/Getty Images. Key Takeaways Circle, Figure, and Gemini have joined Coinbase on U.S. stock exchanges in 2025. The spell of IPO optimism was struck down on Friday when Trump threatened to impose new tariffs on Chinese imports. For listed crypto firms, the broader market downturn was compounded by a partisan clash over DeFi regulation. It has been a strong year for crypto IPOs. Circle, Figure, ...

Key Takeaways: Tether, Kraken, and Circle are leading a surge in crypto IPOs and capital-raising, pulling the industry deeper into mainstream finance. Public listings force crypto firms to embrace governance, compliance, and investor accountability. With over $300 billion in circulation, stablecoins are now crucial to digital payments, particularly in countries struggling with high inflation. 2025 could be a breakout year for crypto initial public offerings (IPOs) following the successful debut of s ...

Revolut is reportedly exploring a dual listing in London and New York, a move that would mark a landmark moment for both financial hubs. Key Takeaways: Revolut is considering a dual listing in London and New York that could value the company at $75 billion. If approved, it would become the first firm to join the FTSE 100 while listing in New York simultaneously. Recent UK regulatory reforms and political support may be shifting the company’s stance toward a London debut. If completed, the listing ...

Core Viewpoint - BitGo has filed for an initial public offering (IPO), becoming the first dedicated crypto custodian to seek a listing on a US stock exchange, which signifies a significant step in the integration of traditional capital markets with digital asset infrastructure [1][3]. Company Overview - BitGo, based in Palo Alto, was founded in 2013 and is recognized as one of the most established custody platforms in the crypto industry, currently safeguarding $90.3 billion in digital assets for institutional clients globally [3][9]. - The company plans to trade under the ticker "BTGO" on the New York Stock Exchange [3][9]. Financial Performance - In the first half of 2025, BitGo reported $4.19 billion in revenue, nearly quadrupling year-over-year, with a net income of $12.6 million [4][5]. - Although the net income decreased from $30.9 million a year earlier, the substantial revenue growth indicates increasing demand from financial institutions entering the crypto markets [5]. - For the entirety of 2024, BitGo had reported $3 billion in revenue and $157 million in profit [5]. Market Context - The current market environment, characterized by softer regulatory barriers and heightened institutional adoption, presents a unique opportunity for crypto infrastructure providers to enter the public market [6]. - The momentum for crypto-related public offerings is increasing, with notable listings in 2025, including Circle and Etoro [7][8]. Strategic Partnerships - Goldman Sachs and Citigroup are leading the underwriting for BitGo's IPO [6].

Company Overview - Cryptocurrency exchange Gemini Space Station, founded by twins Cameron and Tyler Winklevoss, began trading on the Nasdaq on September 12 at $28 per share, raising $425 million in its initial public offering [1] - The Winklevoss twins own 75.37 million shares through Winklevoss Capital Fund LLC, with their combined stake valued at approximately $3.07 billion at current trading prices, controlling 94.5% of the voting power in the company [4] Trading Performance - The stock opened at $37.01 and surged over 40% during its first trading session, reaching a peak of $40.71 before settling around $35 by midday [1] - Trading volume was substantial, with over 3.2 million shares changing hands in the first few hours, experiencing significant volatility that triggered two trading halts within the first hour due to price swings exceeding Nasdaq's acceptable thresholds [2] IPO Demand and Market Context - Demand for Gemini's shares reportedly exceeded available shares by more than 20 times, leading to the decision to cap the IPO proceeds at $425 million while reducing the share count from 16.67 million to 15.2 million shares [3] - Gemini's IPO represents a significant wave of cryptocurrency and blockchain companies entering US public markets throughout 2025, driven by regulatory clarity, institutional adoption, and strong market performance in the digital asset sector [5][8] Industry Trends - The crypto IPO momentum began with Circle, the stablecoin issuer behind USDC, achieving one of the year's most successful IPOs, followed by Bullish, which completed a $1.1 billion IPO in August [6] - Figure Technology Solutions, a blockchain-based credit company, priced its IPO at $25 per share on September 10, targeting a $5.3 billion valuation on the Nasdaq, with shares jumping over 24% on their debut [7]

Company Highlights - Figure, a crypto lender, has priced its IPO at $25 per share, offering 31.5 million shares, with indications currently around $35.50, valuing the company at over $5 billion [1][2] - Gemini, a crypto exchange founded by the Winklevoss twins, is set to debut with a targeted valuation of $3 billion, having increased its proposed price range to $24-$26 per share from a previous range of $17-$19 [3][4] - NASDAQ has made a $50 million strategic investment in Gemini, indicating institutional confidence in the company and its custodial services [5] Industry Trends - The appetite for crypto IPOs remains strong despite recent consolidation in major cryptocurrencies like Bitcoin and Ether [4] - Analysts are observing a shift in interest towards Solana, which has been outperforming other cryptocurrencies in recent weeks, as the market anticipates a potential rally in Q4 [6][8] - Bitcoin has maintained a stable trading range above $100,000, with some analysts suggesting it is viewed as "digital gold" [7][8]

Core Insights - Gemini, the crypto exchange founded by Cameron and Tyler Winklevoss, is preparing for a significant initial public offering (IPO) with an increased price range of $24 to $26 per share, indicating strong investor demand [2][3] - The company plans to offer approximately 16.7 million shares, which would result in a market capitalization exceeding $3 billion at the upper end of the price range [3][4] - Nasdaq has committed to a $50 million private investment in Gemini, further supporting the IPO and reflecting confidence in the company's prospects [4][6] Company Overview - Gemini operates as a prominent crypto exchange in the U.S. and has expanded into a credit card business, highlighting its diverse revenue streams [6] - Despite having a trading volume significantly lower than Coinbase Global, Gemini identifies tokenization and card payments as areas with substantial growth potential [6] IPO Details - The initial price range for the IPO was previously set at $17 to $19 per share, which has now been revised upward due to strong market interest [3][4] - The company is expected to list on the Nasdaq under the ticker symbol "GEMI" [4] - A portion of the Class A shares, up to 30%, will be allocated for retail investors through platforms like Robinhood and SoFi [5]

Core Insights - Bullish's shares are currently trading above their IPO price of $37 but below the initial trading price of $90, indicating a cooling off since the IPO [4][9] - Analysts from Citi, Jefferies, and Oppenheimer have initiated coverage on Bullish, with mixed ratings reflecting concerns over valuation despite recognizing the company's institutional focus [3][9] Company Overview - Bullish operates a digital asset platform and owns the crypto news publication CoinDesk, positioning itself uniquely in the market [9] - The company has multiple growth avenues, including its digital asset platform and media operations, which are seen as complementary [5][6] Analyst Ratings - Jefferies has given Bullish a "Hold" rating with a price target of $49, while Oppenheimer has a "Perform" rating, both citing valuation concerns [5][9] - Citi has taken a more optimistic stance with a "Buy" rating and a price target of $66, viewing Bullish as well-positioned to benefit from upcoming digital asset reforms and increased institutional involvement in crypto [8][9] Market Context - The IPO of Bullish comes amid a wave of crypto firms entering public markets, with other notable upcoming debuts including Gemini Space Station and CoinShares [2][4] - Analysts believe that Bullish is at the center of the next wave of crypto growth, driven by institutional interest and market reforms [8][9]

Public Keys: Ethereum Treasuries Soar, Bitcoin ETFs' $1 Billion Bleed, Crypto IPO Chatter► https://t.co/KYxzWqO3yr https://t.co/KYxzWqO3yr ...